Wendt Q1: consolidated PAT up 63% YoY to ₹6.2 Cr on 37% revenue growth, NPM expands
PAT +63.5% YoY · revenue +36.6% · margins expanding
₹71.28 Cr
+36.6% YoY
₹6.18 Cr
+63.5% YoY
8.49%
+1.5pp YoY
₹30.9
Wendt (India) reported a strong start to FY27. On the primary consolidated basis, revenue from operations rose ~37% YoY to ₹71.28 Cr (from ₹52.17 Cr) and PAT climbed ~63% YoY to ₹6.18 Cr (from ₹3.78 Cr), with net margin expanding to 8.7% from 7.0% a year ago and 7.5% last quarter — profit grew roughly twice as fast as revenue, so this is genuine operating leverage, not just topline. The print is fully organic: there are no exceptional or one-off items on either side, so reported and adjusted growth are the same.
Q1 FY-2027 vs prior quarters
The margin lift sits on the Super Abrasives segment, the group's core, where consolidated segment result rose to ₹8.51 Cr on ₹36.90 Cr of revenue. The drag is at the overseas subsidiaries: Thailand and Germany together turned in revenue of ₹11.37 Cr but a net loss of ₹1.39 Cr, which is why consolidated PAT (₹6.18 Cr) trails standalone PAT (₹8.00 Cr) — the India-only business is markedly more profitable. The consolidated Machines & Accessories segment remained in the red (−₹2.85 Cr), a wider loss than the year-ago −₹3.30 Cr but still the weak spot versus the profitable Super Abrasives and Precision Components lines. Standalone and consolidated tell the same growth story (PAT +62% vs +63% YoY), so the divergence is one of absolute level, not direction.
The stock went into the print at ₹7,870, up 2.8% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 3 consecutive quarters.
What the summary numbers don't show
Consolidated PAT ₹6.18 Cr, +63% YoY and +21% QoQ — EPS ₹30.90 vs ₹18.93 YoY
Management's press release attributes the standalone 31% sales growth to a 38% jump in domestic sales into auto, auto-ancillary, bearings and ceramics user industries, with exports up 7% (US, Singapore, Thailand, Canada, Australia, Spain). This is consistent with the segment data. The company continues to invest behind the overseas footprint — it infused ₹13.29 Cr of capital into its Thai subsidiary in June 2026 — even as that arm currently dilutes consolidated profit. There is no formal management guidance on record and no brokerage/consensus coverage for a stock of this size, so the result cannot be benchmarked against a street number; on its own terms it is a clean beat on the year-ago base.
W1
Overseas subsidiary turnaround: Thailand+Germany at −₹1.39 Cr net loss this quarter — watch if the ₹13.29 Cr Thai capital infusion narrows it
W2
Machines & Accessories segment: consolidated result −₹2.85 Cr (vs −₹3.30 Cr YoY) — needs to reach breakeven to stop capping group margin
W3
Sustainability of 8.7% consolidated NPM as export growth (+7%) lags domestic (+38%)
Source in ₹ lakhs, converted to ₹ Cr (÷100). No exceptional items. Two wholly-owned overseas subsidiaries (Wendt Grinding Technologies, Thailand; Wendt GmbH, Germany) posted combined net loss of ₹1.39 Cr, so consolidated PAT (₹6.18 Cr) is below standalone (₹8.00 Cr). Consolidated Machines & Accessories segment loss-making (result −₹2.85 Cr). All arithmetic checks pass on both statements.